VENTURE CAPITAL ACT 2002

PART 3 - REGISTRATION OF ELIGIBLE VENTURE CAPITAL INVESTORS  

Division 21 - Registration of eligible venture capital investors  

Operative provisions  

SECTION 21-25   REVOCATION AT DISCRETION OF INNOVATION AND SCIENCE AUSTRALIA  

21-25(1)  


Subject to this section, *Innovation and Science Australia may revoke an *entity ' s registration under this Part if Innovation and Science Australia is satisfied that the entity has failed to comply with section 21-20 .

21-25(2)  


As soon as practicable after revoking an *entity ' s registration under this Part, *Innovation and Science Australia must give the entity a notice that advises of the revocation and sets out Innovation and Science Australia ' s reasons for deciding to revoke.

21-25(3)  


*Innovation and Science Australia must not revoke a registration unless Innovation and Science Australia:


(a) by notice in writing given to the *entity, allows the entity at least 14 days after the notice is given in which to make written submissions to Innovation and Science Australia about the matters specified in the notice that, in Innovation and Science Australia ' s opinion, may constitute grounds for revocation; and


(b) considers any such submissions.




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